The U.S. Small Business Administration’s Office of Advocacy recently released an encouraging report on veteran-owned businesses. The report, which is based on the latest available data from the U.S. Census Bureau’s 2012 Survey of Small Business Owners (released December 2015 and February 2016), shows about 2.52 million businesses in the U.S. majority-owned by veterans.
Almost all of these veteran-owned businesses at the time (99.9 percent) were small businesses. U.S Veteran Owned Business Statistics According to the SBA report entitled “Veteran Owned Businesses and Their Owners (PDF),” small business firms owned by veterans employed 5.03 million people, had an annual payroll of $195 billion and receipts of $1.14 trillion.
The veteran-owned firms represented 9.1 percent of all U.S. businesses. California, Texas and Florida had the most veteran owned businesses respectively, while the highest percent of veteran-owned businesses in their populations were found in South Carolina, New Hampshire and Virginia. Other highlights from the study include: • Nearly 30 percent of all veteran-owned firms were in two industry groups: construction and the professional, scientific and technical services group. • The industry with the largest share of veteran-owned firms was finance and insurance (13.2 percent), followed by transportation and warehousing (12.1 percent), and construction (11.4 percent)